Trump brags about making $4.6 million on NFT cards that actually went down in value
Donald Trump released a new iteration of his NFT trading cards on Tuesday, and despite bragging about making $4.6 million, the actual value of the cards dropped significantly.
The former president announced on April 18 that he was selling another series of NFT trading cards, similar to the ones he issued in December.
“I am pleased to inform you that due to the great success of my previously launched DIGITAL TRADING CARDS, we are doing it again, SERIES 2, AVAILABLE RIGHT NOW,” Trump wrote on his social media platform, Truth Social.
About six hours later, Trump said all 47,000 of his digital trading cards had sold out, totaling $4.6 million.
But the actual value of the trading cards told a different story as the floor price fell from 0.42945 ETH to 0.18 ETH within 24 hours according to OpenSea.
The average price of a trading card on April 17 was 0.3943 ETH after a total of 38 sales. But on April 18, the average price was 0.1569 ETH after a total of 1035 sales.
Despite the numbers, Trump boasted about the success of his trading cards.
“A great honor and I hope everyone is happy, healthy and prosperous,” Trump wrote.
Trump also announced the new trading cards on Instagram, marking his first post since Jan. 6, 2021 — the day of the Capitol uprising — and since his account was restored in February.
“Trump has since posted a second photo on Instagram for the first time since January 6. Another NFT of him in a superhero costume wearing a championship belt. Kind of an incredible juxtaposition here,” NBC reporter Ben Collins tweeted.
On Twitter, people mocked the new illustrations.
One of the NFTs shows Mr. Trump in the likeness of George Washington.
Another depicts Trump grilling hamburgers and hot dogs while standing next to a Labrador retriever.
Others show Mr Trump as the King of Hearts, sitting on a motorcycle while playing the guitar, and an army man.
According to the website, each card has a “pre-assigned rarity” with some being unique. The site claims that no digital card will have “more than 10 copies in existence.”
The site also said that if a person buys 47 digital cards, they can get a ticket to a gala dinner with the former president at his Mar-a-Lago residence.
The dinner includes “entertainment and good food.”
Buyers who purchase 100 digital cards using cryptocurrency will receive a “one-of-one” digital trading card and a ticket to the gala dinner.
“Nightmare fuel,” journalist Molly Jong-Fast wrote.
“I find Trump NFTs absolutely fascinating in their ugliness,” author Luke Savage wrote. “They are a pastiche taken from the most insipid archival images, stripped of all specificity. Just a kitsch and empty iconography of money, Americana and machismo – all for images that exist only in the digital ether.”
The new cards are all priced at $99 — the same as the previous trading cards, which Trump pointed out was a “nice guy” gesture of his own.
“I hope everyone notices, and I’m sure the fake news won’t, that I’m leaving the price of the trading cards the same as last time, even though they sell MANY TIMES MORE,” Trump wrote on Sannhet Sosial.
The last time the former president sold NFT cards, he claimed they sold out in less than a day. Trump’s recent financial disclosure shows that he earned between $100,001 and $1 million from his NFTs.
Originally published
